The price of containerized shredded steel scrap imported into India decreased this week on softer demand that was a result of the wave of Covid-19 cases sweeping much of the country, as well as weaker steel prices in China, Fastmarkets heard on Tuesday May 25.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $510.93 per tonne on Tuesday, down from $517.88 per tonne in t...Read More
Fastmarkets has increased the frequency of its India steel scrap shredded index to twice-weekly from Tuesday May 25, 2021, following a consultation period which ended on May 20.The steel scrap shredded, index, import, cfr Nhava Sheva, India, has been subject to continuous fluctuations in the market as a result of factors such as the Covid-19 pandemic and the global shipping crisis.This means that...Read More
Turkish steel mills skipped the second working day of the week with no deep-sea bookings amid negative signals from the Chinese steel industry, market participants told Fastmarkets on Tuesday May 25.The most recent deep-sea transactions were done at the end of the last week, when a steel mill in the Iskenderun region booked a mixed cargo from the Europe at an average price of $516 per tonne cfr. T...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly positive on the morning of Tuesday May 25, with only SHFE lead showing significant weakness. Broader markets seem to have become more risk on again after US central bankers stuck to their dovish guidance.Asia-Pacific equities were firmer this morning, especially in China where government action has calmed inf...Read More
The United States is "deep in conversations" to determine how the federal government can support the growth of electric vehicles (EVs), the country's Secretary of Transportation said.The country's goal of reducing carbon emissions by at least 50% by 2030 is helping to drive this collaboration, according to Secretary Pete Buttigieg."We're deep in conversations about how to support the EV revolution...Read More
A summary of Australian lithium miner Orocobre's results for the first quarter of 2021, released on Monday May 24.In briefSales of lithium carbonate salts from the Olaroz facility in Argentina totaled 3,032 tonnes during the January-March quarter, with the average realized price rising by more than 50% compared with...Read More
Rio Tinto and Slovakia-based battery company InoBat have signed a memorandum of understanding to accelerate the establishment of a battery manufacturing and recycling value chain in Serbia, the United Kingdom-listed miner said.The partnership will cover the full commodity life-cycle of lithium from mining through to recycling, it noted.The agreement comes at the same time as Rio Tinto is poised to...Read More
We spoke with Richard Williams, Executive Chairman, and Sam Ash, CEO of Bunker Hill Mining Corp. (CSE: BNKR), a USA-focused silver exploration and development company, located in the most prolific silver region in the Country. Under the new Idaho-based leadership, Bunker Hill Mining Corp. intends to sustainably restart and develop the world-class, high-grade Bunker Hill Mine, that had produced ove...Read More
I still remember as a kid asking my dad how much he earned in a year. That did not go over well, and it was the first of many lessons I learned regarding what personal information (data) is OK to share versus what personal information should be kept private.Obviously, the memory has stuck with me. And I bring it up today because it directs me to our discussion and opportunity for June.It all revo...Read More
A combination of tight supply and strong demand was keeping the European hot-rolled coil market bullish, with the situation unlikely to change any time soon, market participants told Fastmarkets on Tuesday May 25.Some sources, however, were growing concerned that recent price falls in China might put an end to the rapid increases in Europe.Fastmarkets calculated its daily steel hot-rolled coil ind...Read More
China's hot-rolled coil export prices fell significantly on Tuesday May 25, following the recent sharp decline in domestic prices and the resulting uptick in sales.DomesticEastern China (Shanghai): 5,430-5,440 yuan ($848-850) per tonne,down by 10 yuan per tonneSellers cut domestic HRC prices slightly on Tuesday to encourage higher sales volumes following futures losses, sources said.Stockists plan...Read More
Market chatter about China possibly imposing new export taxes for steel as part of commodity price cooling measures has been rampant in the past week, causing traders and market participants to re-think their trading strategies, and overseas buyers to consider a potential supply shortfall.The taxes are supposed to take place from June 1, but there has been no official statement by China's Ministry...Read More
Steel rebar prices in the United Arab Emirates continued to rise in the week to Tuesday, May 25 on improving demand, while imported steel billet prices fell due to a lack of interest, sources told Fastmarkets.After securing steel billet volumes in the week to May 18, rebar producers were said to have enough in stock to last for more than a month, so were no longer interested in making further book...Read More
China must rely on innovation-driven technological growth to achieve high-quality development, Shusong Ba, managing director and chief China economist at Hong Kong Exchange & Clearing (HKEX), said during the London Metal Exchange Asia 2021 Metals Seminar on Tuesday May 25.During his speech, Ba pointed out that although China's gross domestic product (GDP) in the first quarter of 2021 increased by...Read More
Sellers in China's domestic rebar market stopped lowering prices on Tuesday May 25, which led to a pick-up in end-user demand.DomesticEastern China (Shanghai): 4,900-4,920 yuan ($762-765) per tonne, unchangedThe stable prices encouraged contractors in the construction sector to replenish their inventories during the day. But transacted tonnages were not large because these buyers are not too bulli...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 25 that are worth another look.Exports of iron ore from India's east coast could face minor disruptions after the key port of Paradip in the state of Odisha suspended operations on May 25...Read More
The price of containerized shredded steel scrap imported into India decreased this week on softer demand that was a result of the wave of Covid-19 cases sweeping much of the country, as well as weaker steel prices in China, Fastmarkets heard on Tuesday May 25.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $510.93 per tonne on Tuesday, down from $517.88 per tonne in t...Read More
Fastmarkets has increased the frequency of its India steel scrap shredded index to twice-weekly from Tuesday May 25, 2021, following a consultation period which ended on May 20.The steel scrap shredded, index, import, cfr Nhava Sheva, India, has been subject to continuous fluctuations in the market as a result of factors such as the Covid-19 pandemic and the global shipping crisis.This means that...Read More
Steel billet buyers in Southeast Asia are sat on the sidelines again amid further declines in the Chinese market, sources told Fastmarkets on Tuesday May 25.Continued declines in China's steel futures and physical markets this week, underpinned by the Chinese government's aim of cooling commodity prices, has led to radio silence in the China steel billet markets.Offers for Indonesian 3sp 150mm bla...Read More
Gareth Soloway President is CEO & Chief Market Strategist for InTheMoneyStocks.Read More